M&A Deal Summary |
|
|---|---|
| Date | 2021-11-17 |
| Target | Heights Finance |
| Sector | Financial Services |
| Buyer(s) | CURO |
| Sellers(s) | Milestone Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 360M USD |
| Advisor(s) | Troutman Pepper Hamilton Sanders (Legal) |
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| Category | Company |
|---|---|
| Founded | 1997 |
| Sector | Financial Services |
| Revenue | 776M USD (2022) |
CURO is a consumer finance company providing alternative financial services focused on serving unbanked and underbanked customers in the U.S. and Canada. CURO was founded in 1997 and is based in Wichita, Kansas.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 4 |
| Sector (Financial Services) | 2 of 3 |
| Type (Add-on Acquisition) | 3 of 4 |
| State (South Carolina) | 1 of 1 |
| Country (United States) | 2 of 3 |
| Year (2021) | 2 of 2 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-02-01 |
Flexiti Financial
Toronto, Ontario, Canada Flexiti is a Canadian fintech company that offers financing options on a private label credit card that makes shopping simple for consumers and retailers. Flexiti approval process is quick, payment options are flexible, and customers can shop at any retailer in the Flexiti Network. |
Buy | $121M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-07-13 |
First Heritage Credit
Ridgeland, Mississippi, United States First Heritage Credit offers short- and long-term personal loans designed to provide its customers with a convenient and dependable source for additional cash when they need it. First Heritage Credit is based in Ridgeland, Mississippi, with offices and branch locations in the states of Alabama, Louisiana, Mississippi, South Carolina, and Tennessee, |
Buy | $140M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1995 |
| PE ASSETS | 650M USD |
| Size | Middle-Market |
| Type | Sector Agnostic |
Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Villanova, Pennsylvania.
| DEAL STATS | # |
|---|---|
| Overall | 26 of 28 |
| Sector (Financial Services) | 3 of 3 |
| Type (Add-on Acquisition) | 10 of 11 |
| State (South Carolina) | 3 of 3 |
| Country (United States) | 24 of 26 |
| Year (2021) | 3 of 3 |
| Size (of disclosed) | 2 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-07-21 |
PayLink Direct
Chicago, Illinois, United States PayLink Direct is a provider of payment financing and processing services to facilitate the sale of vehicle service contracts. PayLink specializes in partnering with VSC providers to offer financial and payment processing solutions to purchasers of VSCs, also known as extended warranty contracts. PayLink Direct was founded in 2006 and is based in Chicago, Illinois. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-05-26 |
Drive Assurance
Baton Rouge, Louisiana, United States Drive Assurance is a specialty auto insurance holding company with investments in GoAuto, a tech-focused, vertically integrated personal auto insurance platform providing low-limit policies through its managing general agent and insurance carrier subsidiaries, and Adaptive Information Technologies (AIT), GoAuto’s affiliated technology platform. Drive Assurance leverages AIT’s proprietary data analytics and underwriting software while distributing policies direct-to-consumer online and through 70 captive storefronts across Louisiana, Texas, Nevada and Ohio. Drive Assurance is based in Baton Rouge, Louisiana. |
Buy | - |
